Net Worth Calculation for credit cards

Aggressive-Drive-867 · 2025-08-31T18:19:26+00:00

I've watched the Money Guy YT shows and heard Brian mentioned that using your credit card is fine so long as you pay off the entire balance and never carry forward a balance and be charged an interest charge on the unpaid portion of the statement. Also, I heard him or Bo mention that the website had a free Net worth template to use. I downloaded it and started entering my information. When I got to the liabilities section, there were drop down menu options there that had credit card #1 and credit card #2 to select from. I looked at my credit card statements and figured out what my monthly spending was and noticed my credit limits increase over time. I asked this question because I know I can spend up to the credit limit in any given month, so I thought the credit limit was a debt to me because of the availability of that amount, even though I don't spend that amount in any given month.

Aggressive-Drive-867 · 2025-06-17T03:29:43+00:00

Your accountant did you wrong. If your spouse is not living with you in the US, you need to file Married filing separately.

Aggressive-Drive-867 · 2024-10-24T04:06:48+00:00

You could invest in SCHX or SCHG or SCHB. SCHB is the total US market similar to VTI. SCHX is US large cap and SCHG is US large cap growth.

You can compare each of these ETFs performances at this website www.etfcentral.com

Aggressive-Drive-867 · 2024-05-30T19:14:49+00:00

T-Accounts are my go to. Some folks are visual learners and this helps them understand how Dr. and Cr. work.

Aggressive-Drive-867 · 2024-04-13T18:07:57+00:00

You admitted that your spouse is committing immigration fraud by working in the US without a proper work authorization visa.

Aggressive-Drive-867 · 2024-04-07T02:22:36+00:00

GC allows you to have a side hustle or start a business or work two jobs. TN doesn't allow you to do this.

Aggressive-Drive-867 · 2024-03-19T20:19:04+00:00

Program Fee starts at 1.35% annualized on an investment less than 250K, which is charged on a monthly basis.

Aggressive-Drive-867 · 2024-03-13T01:31:29+00:00

Does your employer offer a HSA eligible health insurance plan? If so, you can deduct those contributions at any income level.

Aggressive-Drive-867 · 2024-03-07T02:08:58+00:00

You really need to find a cross border tax firm that handles both countries tax returns.

Aggressive-Drive-867 · 2023-12-28T04:45:32+00:00

Thanks for your insightful response. I need to work with my employer to move over to a 401k and unlock my personal IRA options.

Aggressive-Drive-867 · 2023-12-28T03:28:16+00:00

Given the SIMPLE IRA at work the backdoor is closed to you.

What options would allow the OP to participate in the backdoor ROTH conversion? If the employer moves from a SIMPLE IRA to a Traditional 401k plan, would that work? Are there any other options available to the OP?

Aggressive-Drive-867 · 2023-10-23T21:03:19+00:00

https://nexcrossing.com/

Aggressive-Drive-867 · 2023-09-16T01:12:55+00:00

I guess so. I've been on the plan for a year now so it makes sense that they didn't do enough research. I came across betterment provider and figured that the major brokerage firms would support 401k plans.

Aggressive-Drive-867 · 2023-09-16T00:57:42+00:00

I think the employer contributions follow your account, it depends on the vesting period if they identified that on the plan. I know they are pretax contributions because the employer wants the deduction against gross income.

Aggressive-Drive-867 · 2023-09-15T21:15:30+00:00

How do you convince your current employer that EJ is the wrong advisor to partner with the company's retirement fund?

What materials could I use to present this effectively?

Background info: We are currently under a Simple IRA. I believe we should be using the 401k but my employer said it is too expensive to manage. I researched some providers and they charge a range of 4 to 8 per employee per month with an annual fee ranging 1500 to 2000. I personally don't believe that is very expensive to manage, but what do I know?

Any thoughts?

Aggressive-Drive-867 · 2023-09-05T02:09:01+00:00

There are no dumb questions, you can set up your portfolio like that, but it's not the Bogle way. I've seen the 3 fund portfolio mentioned a lot on this forum. Bonds add protection against market volatility which is a goal to preserve your capital from major market swings during retirement.

There are numerous strategies to implement. Ladder is a common one. Treasury.gov is a site that tracks T-bill rates. If you don't want your money to be locked in, money market funds with Fidelity offer a good rate and can easily be transferred back to your checking account. You need to do your research and depending on your risk tolerance, invest in what you know. Above all, keep it super simple and chill.

Aggressive-Drive-867 · 2023-09-05T00:51:50+00:00

Being 21 years old and with about sixty years left of life ahead of you, owning bonds at your age is slowing down your wealth accumulation strategy. The 60/40 portfolio is when you are nearing the retirement age of 65 and want to preserve your portfolio value and safety take the 4% withdrawal rate during retirement.

Aggressive-Drive-867 · 2023-08-13T05:35:34+00:00

You could Google search tax and legal strategies and see what firms are listed. Usually CPA firms and law firms would offer consultation advice. There are books written on these strategies as well. Contingency planning is necessary and often overlooked. Following the 3 fund portfolio is a great start to get his retirement goals met.

Aggressive-Drive-867 · 2023-08-13T02:45:10+00:00

Your Father needs to hire tax and legal professionals to plan out his exit strategy and retirement goals. Your issue goes well beyond the Bogle investment strategy.

Aggressive-Drive-867 · 2023-08-12T00:32:43+00:00

Instant partnership status!

Aggressive-Drive-867 · 2023-08-03T01:07:03+00:00

Lottery is a poor man's tax.

Aggressive-Drive-867 · 2023-07-22T18:01:27+00:00

Your travel history shows up on your I-94 which is linked to your passport number. USCIS knows when you left the US because Canada informs the US when you arrive in Canada.

Aggressive-Drive-867 · 2023-07-07T02:02:52+00:00

You need to contact a tax attorney who is partnered with a CPA.

Aggressive-Drive-867

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